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John Cryan unleashes his inner fighting spirit

Following rumors about Deutsche Bank getting a new boss soon, CEO John Cryan has sent a memo to employees saying that he is "absolutely committed" to serving Germany's largest lender. Will this bring peace?

Reuters had said Deutsche Bank had been looking for a new CEO as investors had grown frustrated with the slow turnaround of the loss-making lender.

"Once again we're the subject of widespread rumors," Cryan said in the memo. "I just wanted to reaffirm that I am absolutely committed to serving our bank and to continuing down the path on which we started some three years ago."

"We need to focus on executing the strategy that was agreed and signed off by both the management and supervisory boards; there's no difference of opinion here," Cryan insisted.

News agencies had reported that Board Chairman Paul Achleitner had initiated the search to replace John Cryan.

"The fact that Cryan must write his own defense and doesn't get any backing from Achleitner is a sign of weakness for the CEO," Aramea Asset Management portfolio manager Florian Sauerburger told Bloomberg on Wednesday.